In Pakistan Stock Exchange or PSX, KSE 100 Index increased by 700 points on Monday (today).
KSE 100 Index gained 700 points in the intra day trading today. However, the raise was observed after PM Imran meeting with traders and stockbrokers on Sunday (yesterday).
The PTI govt assured brokers that they will undo the regulations that were shot down the PSX during PML-N tenure.
One of the stockbrokers revealed that investors are hopeful about the government’s promise about the Capital Gains Tax (CGT) and turnover tax.
During mid-day, the KSE 100 Index was raised by 1.68% or 646.78 points and reached at 39,208.83 points.
Some seasoned brokers including Aqeel Karim Dehdhi and Arif Habib anticipated rally after the meeting with Finance Minister Asad Umar and PM Imran Khan at Governor House Sindh yesterday. In addition, they were also included in the PSX delegation that met with Imran Khan.
According to sources, tax is one of the key hurdles in generation of volumes and key trading activities at PSX.